May 2005 Table of Contents

Features
Green Scene Green Scene

Environmentally friendly buildings have always been trendsetters, but the expense of recycled materials, alternative energy systems, and high-efficiency mechanicals could be absorbed by only the biggest budgets. Even today, high-profile luxury buildings like New York's 293-unit Solaire high-rise get most of the press. ( Read more

Condo Considerations Condo Considerations

Everywhere you go, you see the marks of condo-mania. In my tiny Arlington, Va., neighborhood alone, there are two new condominium projects under construction and one condo conversion in progress within a two-mile radius of our own (ahem) condo. Colorful signs at these construction sites and properties highlight the lifestyle, the starting prices, and, of course, the way to the sales office. Would-be homeowners and investors are lining up to buy them. Read more

Pushing Back Pushing Back

While homeownership is an important part of America's housing policy, trying to become a nation of 100 percent homeowners could have unfortunate consequences for homeowners, local communities, and the national economy. The rarely spoken truth is that there is such a thing as too much homeownership. More importantly, our single-minded pursuit of higher homeownership rates causes us to overlook alternative and potentially more effective solutions to our current housing needs. Read more

Live at the Plaza Live at the Plaza

Live at the Plaza: New York's landmark scales back on hotel rooms, adding condos and stores to the mix. Read more

Urban Cowboys Urban Cowboys

Less is more. That's always been a tough concept for Big D apartment developers to grasp, but it looks like the message finally is registering. Builders are slowing production, giving the battered Dallas apartment market a chance to recover. Even more encouraging, much of the remaining construction activity is concentrated in the Intown and Las Colinas neighborhoods, two of the metro's most popular areas where near-term deliveries actually are merited. Read more

Urban Cowboys Urban Cowboys

Less is more. That's always been a tough concept for Big D apartment developers to grasp, but it looks like the message finally is registering. Builders are slowing production, giving the battered Dallas apartment market a chance to recover. Even more encouraging, much of the remaining construction activity is concentrated in the Intown and Las Colinas neighborhoods, two of the metro's most popular areas where near-term deliveries actually are merited. Read more

Smart Growth Smart Growth

When Marty Jones, president of Corcoran Jennison Cos., was featured on the cover of MULTIFAMILY EXECUTIVE in May 2000, she was keenly focused on getting her latest project in the ground. Little did she know that within two years, work on Park Square West (planned for downtown Stamford, Conn.'s historic district) would be all but stopped by an eminent domain case fumbled by city officials. Read more

The Real Deal The Real Deal

Imagine renovating six downtown warehouses of varying age, structure, and materials. It sounds like an overwhelming task, but to Trammell Crow Residential, these Houston structures represented an opportunity. Read more

Western Frontier Western Frontier

For Bobby Bull, it's all about the relationships. “The people within people within multifamily are what keep me here. I enjoy the way our industry has a unique way of bringing brokers and clients alike together,” says Bull, who became vice president and managing director for Transwestern Commercial Services' Southwest region multifamily investments in January 2005. “The nature of the industry allows for the forming of relationships to be easy.” Read more

Women's Retreat Women's Retreat

After two years of planning and design, the nonprofit Catholic Charities of the Diocese of San Diego is opening the Ninth & F Apartments. It will offer 24 units of permanent refuge for women who are homeless or fighting drug and alcohol abuse. Read more

American Welcome American Welcome

In the 1990s, senior housing emerged as a darling of the multifamily industry, as the aging of the baby boomers spawned unprecedented growth in the assisted living properties. Then the bottom fell out. Unsophisticated operators and unchecked building activity spun the industry into a downturn that still has lingering effects today. Read more

Search Smarts Search Smarts

One of the greatest things about the Internet is that it extends your company's reach so that you can nearly market one-to-one with your potential renters. The downside: So can your competitors. Read more

Hot Product Of The Month Q & A

Terry Espy answers: What's the hottest fixture for multi-family buildings in 2005? Read more

Form and Function Form and Function

Doors and windows create the tenants' and condo buyers' all-important first impression of your property. So you want to choose products that create visual interest and provide security and functionality. Attractive doors and windows can make a building unique, allowing property managers to command higher rents and creating a sense of pride among community residents. Baby boomers, high-income retirees, and upscale singles alike want easy-to-maintain, wide-open window spaces and entryways that provide fine architectural details. Lower-income tenants also value natural light as well as energy efficiency and security. Read more

2005 MFE Top 50 - Dashed Hopes 2005 MFE Top 50 - Dashed Hopes

Like many multifamily owners, John Manning expected 2004 to be a good year. Manning, the president and CEO of Massachusetts-based Boston Capital, thought employment statistics would improve and apartment occupancies would naturally follow, bringing a respite from the economic pressures on his 130,000-unit portfolio. Read more

2005 Multifamily 50 - Builders 2005 Multifamily 50 - Builders

Michael Costa isn't waiting for a rebound in market-rate apartment construction. He doesn't need to. “We're focused 100 percent on workforce housing,” says Costa, president of Simpson Housing Solutions, a California-based subsidiary of Simpson Housing, a multi-family builder and developer based in Denver. Workforce housing, he explains, is designed for households making from 60 percent to 80 percent of the local median income. Many of these are younger people just entering the workforce. “The median home price in Los Angeles County is over $400,000 so these programs appeal to young people in these communities,” Costa says. Read more

2005 Multifamily 50 - Owners 2005 Multifamily 50 - Owners

For AMLI Residential, 2004 marked a year of spring cleaning as the Chicago-based REIT tidied up its portfolio by adding a number of young Class A apartment communities. “We think that the market is mispricing the older stock, and we think it's a good time to sell the older [stock], and buy brand new,” says Gregory Mutz, chairman and CEO of AMLI, which ranked No. 27 on the list. Read more

2005 Multifamily 50 - Managers 2005 Multifamily 50 - Managers

Sometimes wishful thinking pays off. Just ask FPI Management, a Folsom, Calif.-based fee manager. Last February, the company nearly doubled the size of its headquarters with the hopes of dramatically growing the company's portfolio. “We designed and built our new office building with the intention that we could grow the company up to 50,000 units with no idea where the 50,000 units were going to come from,” says Dennis Treadaway, FPI's president. Read more

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